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Skyhigh Networks Partners With Sequoia Capital, Raises $20M in Series B Financing

May 22 2013 12:00AM

Marketwire

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CUPERTINO, CA -- (Marketwired) -- 05/22/13 -- Skyhigh Networks, the cloud visibility and control company, today announced that it has received $20M in Series B financing. The round was led by Sequoia Capital, with participation from existing investor Greylock Partners. Aaref Hilaly, partner at Sequoia Capital, has joined Greylock's Asheem Chandna on Skyhigh Networks' Board of Directors. The company also unveiled the "30-in-30 Challenge," which guarantees participants that Skyhigh Networks will uncover at least 30 unknown cloud services in use by their organization in 30 minutes.

"Sequoia Capital's investment provides significant validation of our ground-breaking approach to addressing the previously ignored issue of shadow IT," said Rajiv Gupta, co-founder and CEO, Skyhigh Networks. "Customer demand since our launch has been tremendous, and partnering with Greylock and Sequoia will enable us to accelerate our strong growth and build the leading company in the cloud visibility and control market."

"The rapid spread of BYOD and cloud computing has led to vast numbers of cloud services being adopted, often with no involvement from corporate IT," said Hilaly. "Skyhigh sets itself apart from other security companies by giving IT a unique 'searchlight' to find these cloud services, assess the risks involved in using them, and control the confidential data stored in them -- all in a way that's respectful of the end user. We are thrilled to partner with Rajiv and his exceptional team who have a long history of delighting customers with innovative products."

"Business users expose organizations to security and compliance risks when they adopt new cloud services without IT involvement," said Asheem Chandna, partner at Greylock Partners and Skyhigh Networks board member. "Skyhigh enables IT teams to reduce these risks and accelerate the safe adoption of cloud services, allowing CIOs to once again become chief enablers of their businesses."

With Skyhigh, IT departments discover, analyze, and control the cloud services used by employees on any device and from any network. In typical engagements, Skyhigh identifies over 10 times more cloud services in use than IT was aware of.

"We had no comprehensive way of knowing which services were in use, where outgoing data was headed, and what risks these cloud services implied for our business," said Steve Martino, vice president, Information Security, at Cisco. "The number of cloud providers we were using was definitely an eyebrow raiser. We knew there would be a number of them, but we were surprised by exactly how many showed up."

In order to shine a light on shadow IT, Skyhigh also announced the 30-in-30 Challenge. "Give us 30 minutes, and we're confident we'll find at least 30 cloud services in use by your organization that you didn't know about," said Kamal Shah, VP Products & Marketing, Skyhigh Networks. "If we don't, you'll enjoy 30 months of Netflix on us."

Interested companies can sign up for the 30-in-30 Challenge at: http://www.skyhighnetworks.com/product/evaluation/30-in-30/

The Skyhigh Networks Cloud Services Manager is a zero footprint, multi-tenant service that discovers, analyzes, and controls cloud services in use within an organization.

•Discover: See all cloud services in use and their associated security, legal, and business risks. •Analyze: Identify anomalous behavior and opportunities for consolidating subscriptions. •Control: Enforce key security and usage policies such as access control, data encryption, and data loss prevention.

Skyhigh Networks joins a distinguished set of companies, such as LinkedIn Corporation and Palo Alto Networks (NYSE: PANW), where Greylock and Sequoia have partnered with world-class entrepreneurs to build market-leading enterprises. This latest round brings the total investment in the company to more than $26M. Skyhigh will use the new capital to expand its sales, marketing, and engineering teams to meet the increasing demand for its services and to extend its leadership in the cloud visibility and control market.

About Skyhigh Networks
Skyhigh Networks, the cloud visibility and control company, enables companies to embrace cloud services with appropriate levels of security, compliance, and governance while lowering overall risk and cost. With customers including Cisco, Equinix, and Torrance Memorial Medical Center, the company was a finalist for the RSA Conference 2013 Most Innovative Company award and was recently named a "Cool Vendor" by Gartner, Inc. Headquartered in Cupertino, Calif., Skyhigh is led by an experienced team and is venture-backed by Greylock Partners and Sequoia Capital. For more information, visit us at http://www.skyhighnetworks.com or follow us on Twitter @skyhighnetworks.

Skyhigh Networks, CloudAnomaly, CloudCompare, CloudFlow, CloudRegistry, CloudReport, and CloudRisk are trademarks of Skyhigh Networks, Inc. in the United States and other countries.



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Source: Marketwire